Omega-3 ingredients are polyunsaturated fatty acids which are used to manufacture products that improve the cardiovascular and cognitive functioning of the human body. The ingredients are sourced from fish oils, microalgae (phytoplankton), plant sources such as flax seed, chia seed and walnut and others. Increasing demand for functional ingredients owing to rising health consciousness and consumer awareness is contributing to the growth of omega-3 ingredients market. The Omega-3 market is segmented based on End-Use, Extract and Geographic perspective. The market is forecast to reach $2,659 Million by 2020.
Consumption of Omega-3 fortified functional food and dietary supplements is set to increase owing to growing awareness regarding preventive health benefits of Omega-3 PUFA on cardiovascular ailments. Consumers are becoming significantly aware of the unhealthy diet and bad lifestyle choices and to prevent the issues from getting elevated, many consumers have begun the intake of Omega-3 encapsulated dietary supplements. This trend of extensive demand for dietary supplements and pharmaceuticals applications is set to propel the market for Omega-3 PUFA ingredients in the near future.
Major end-use segments of Omega-3 PUFA are Infant Formula, Food & Beverages, Nutritional Supplements, Pharmaceutical & Clinical Nutrition and Pet Food. Nutritional supplement is the most dominant segment among the Omega-3 PUFA ingredients market owing to higher demand from Asian countries for concentrated Omega-3 PUFA formulations. Pharmaceutical & Clinical Nutrition is the second dominant segment by value due to its increasing recommendation by doctors to the patients displaying early signs of cardiovascular diseases.
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North America is the most dominant market for Omega-3 PUFA ingredients and the market is estimated to reach $1,173.3 Million by 2020 at a CAGR of 5.8% from 2015 to 2020. Heightened awareness and extensive demand for Omega-3 PUFA ingredients in China had led APAC in occupying the second largest market share in 2014, coupled with growing awareness among consumers across APAC nations on advantage of Omega-3 PUFA formulated dietary supplements and functional foods are driving the market in the region.
Major players in this market include:
· Koninklijke DSM N.V. (The Netherlands)
· BASF SE (Germany)
· FMC Corporation (U.S.)
· Croda International Plc. (U.K.)
· Omega Protein (U.S.)
Major players in the market are profiled in the report along with company strategies, developments, product range and financials are included in the report.
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The Omega-3 PUFA Ingredients Market Report provides detailed analysis of different ingredients and end-use segments.
Various end-use applications included in the report are:
· Infant Formula
· Foods And Beverages
· Nutritional Supplements
· Pharmaceutical & Clinical Nutrition
· Pet Food
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.
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